Today is national boss day and the expert marketing professionals at Malimaja wanted to provide some advice on how to open up your own marketing business and become a boss. You can find more advice by signing up for Malimaja’s marketing webinars.
- Forecasting
Before you start any successful marketing business, you have to map out the amount of clients needed to produce a stable revenue flow, your living needs, and any employee costs. If one of those factors is not balanced with the others, your business will most likely fail.
This begs the question most people ask, how do I balance all those factors correctly? The answer is simple, cost of services. A company searching for a marketing firm is looking to increase their exposure as well as stay within a budget. If you can’t quantify and pitch the cost of your services, odds are that a potential client will be hesitant on working with you or not give a definitive answer.
Once you’ve hammered out standard prices for various services, you then have to determine how many clients can let you have a stable life, fulfill operating costs, and employee costs. That certain amount of clients will be your green light to opening up your own business. However, the number of clients will eventually have to increase due to future inflation.
- Clients
I know that the adage “the customer is always first” is arguable; however, marketing businesses thrive off of top quality client service. In the marketing world, you have to keep your clients consistently satisfied because the client turnover rate is usually two – three years. That shockingly low number comes as no surprise due to clients constantly calculating their marketing ROI costs.
If you can provide hard work and keep your client satisfied, you can make it in the marketing industry.
- Determination and Hard Work
Unless if you magically have clients lined up to work with you for no apparent reason or invent some ground breaking marketing method, you’re going to have to put A LOT of work to succeed as a marketing business. There will often be days or maybe years where you’ll find yourself in a position where your business isn’t growing. However, it’s important to remember that you’re not the first person who has gone through adversity to start a marketing business. Winning clients takes hustle, good marketing expertise, and the willingness to go above and beyond your competitors.
Starting a marketing business definitely takes a lot of factors to succeed, but it’s possible if you can accomplish those components. .
